NEWSROOM
End of Year Wrap-Up: A Look Back at 2024
As 2024 comes to an end, we take a moment to reflect on a year marked by significant changes. Around the world, elections reshaped governments, new technologies made headlines, and global events brought both challenges and hope. In South Africa, progress in solving the energy crisis has been a bright spot and at Apex Private Wealth, we’ve had a busy and exciting year reaching new milestones with your trust and support! Let’s look back at some of the key events.
MARKETS
Optimism around how Artificial Intelligence could drive productivity, lower costs, and improve efficiency drove many US tech stocks to dizzying heights, with just 10 stocks now making up 38% of the US stock market.
With elections for roughly half the world’s population in 2024, this was the biggest election year in history. India saw a record 642 million votes cast, UK voters made their unhappiness with the Conservatives known and ushered in a new Labour government and after being convicted of 34 felonies in May this year, Trump managed to win a second term as President of the US.
Elections in 2024
With supply chains affected by Covid, pent up demand and economic stimulus, inflation soared in recent years. Global inflation came down strongly in 2024, allowing central banks around the world to start lowering interest.
GEOPOLITICS
We have seen another year of the Russia/Ukraine conflict and without any clear resolution on the horizon, it may easily continue much longer. The conflict in Israel, Gaza and the middle east has been tragic and hopefully the recent cease fire is the beginning of a more long-lasting de-escalation.
OLYMPICS
Paris put on a spectacular show, proudly hosting the most diverse and sustainable games ever, set in iconic venues like the Grand Palais, Versailles, the Eiffel Tower and the river Seine. Simone Biles was back on form; a Turkish shooter became an icon and Australian break dancer Raygun had us all scratching our heads.
SOUTH AFRICA
In the buildup to the SA elections in May, political analysts spoke to us about the “good”, “bad” and everything in between potential outcomes from the election. Not one suggested the possibility of a Government of National Unity and this outcome has been enthusiastically received by economists, investors and the country at large.
Who would have guessed on the 1st of January that we would have had over 9 months without loadshedding. The crippling electricity crisis has eased significantly this year, and the economy is slowly picking up steam. This has been a joint effort by Eskom to improve their maintenance and the efficiency of its fleet, and the private sector installing a massive amount of self-generation.
At Apex Private Wealth, we have had a busy and successful year. In July, Carolyn Hurwitz-Botha and her team joined Apex. In August, René van de Spreng was named a finalist in the FPI Financial Planner of the Year awards. In November, we moved to our new offices in Rosebank, and in December, we welcomed Natalie Wheble, who joined us as a Wealth Adviser.
Following our recognition as Wealth Management Firm of the Year for 2022/2023 at the Prestige Awards, Apex Private Wealth has once again been recognized with the same title for 2024/2025. This award is a testament to our commitment to service excellence, personalized advice, and ongoing support to our clients.
Our success is because of you, our clients, and we want to thank you for all your support and entrusting us with your money. We hope you all have a restful and enjoyable festive season, and we look forward to the year ahead!